VICTORIA, Seychelles — The Office of the President has announced the appointment of new boards for the Financial Services Authority (FSA) and the Seychelles Postal Services (SPS), with members to serve a three-year period effective January 21, 2024. The President has thanked the outgoing members of both boards for their period of tenure. The announcements cover the two largest financial and postal regulators in the country.
For the FSA Board, Patrick Payet has been re-appointed as chairperson, with Muhammad Saley joining as the new vice-chairperson. The other members of the FSA Board are Randolf Samson as chief executive and ex-officio member, along with Seylina Joymon, Kahaki Jere, Robert Stravens, Samanta Esparon, Anne Rosette and Richard Rampal. Audrey Pothin will also join the board as a member with effect from February 19, 2024. The composition brings together a mix of returning and new faces from the financial and regulatory community.
For the SPS Board, Norman Weber has been re-appointed as chairperson, with Tessa Henderson joining as the new vice-chairperson. The other members of the SPS Board are Mariella Buisson as chief executive and ex-officio member, alongside Ayub Adam, Ruth Pool, Demelza Valentin, Marcus Elizabeth, Thessia Labonte and Christophe Madeleine. The board will oversee the postal operator through the next three-year period, including the ongoing modernisation of postal services.
The FSA is the integrated regulator for non-bank financial services in Seychelles, with responsibility for the supervision of insurance, securities, collective investment schemes, fiduciary services, and the wider international financial services sector that contributes a significant share of the country’s gross domestic product. The reappointment of Patrick Payet as chairperson is intended to provide continuity in the regulator’s approach at a time of evolving international standards on beneficial ownership and tax transparency. The new vice-chairperson, Muhammad Saley, brings additional experience from the banking sector to the leadership team.
The reappointment of Norman Weber as SPS chairperson comes as the postal operator continues to adapt to a sharp decline in letter volumes and to expand its financial services and parcel delivery business. The new boards are expected to begin work immediately, with the FSA board already at full strength and the SPS board meeting in the coming weeks to set priorities for the first year of the new term.
